A pump is seen at a gas station in Manhattan, New York City

Gas prices are on a steady decline after multiple months of record-high increases, reaching their lowest level since March 3 as thousands of Americans look to close out the summer with the Labor Day holiday.

The national average price of gas on Friday was $3.809 per gallon, down from its record high of $5.016 per gallon set on June 14, according to the American Automobile Association (AAA).

Gas prices have now dropped for 79 consecutive days as global oil prices decline. Crude oil was trading at about $88 a barrel mid-day Friday, according to OilPrice.com.

Still, drivers looking to get out of town for Labor Day weekend can expect to pay over 60 cents more per gallon for gas than they did last year. This comes as demand for fuel rises with one of the biggest travel summers since the pandemic shut down the country.

According to a survey from gas tracker site GasBuddy, 33% of Americans say they will travel over the Labor Day weekend.

States with some of the lowest gas prices in the country include Georgia ($3.349 per gallon), Mississippi ($3.325 per gallon), Arkansas ($3.308 per gallon), Louisiana ($3.352 per gallon), and Texas ($3.320 per gallon).

While the national average gas price is now down over $1 per gallon since the start of summer, some states and cities are still continuing to pay over $4 per gallon, despite the national average being much lower.

California continues to have one of the highest average gas prices per gallon in the country at $5.245 a gallon, only being beat by Hawaii's $5.299 per gallon price tag.

Other states with gas prices well over the national average include Illinois ($4.140 per gallon), Idaho ($4.546 per gallon), Utah ($4.418 per gallon), Oregon ($4.736 per gallon), Nevada ($4.839 per gallon), Washington ($4.701 per gallon), Alaska ($4.827 per gallon), and New York ($4.058 per gallon).

But it's not all bad news for drivers as Andy Lipow, president of Lipow Oil Associates, wrote in a client note obtained by NBC News that he predicts U.S. gas prices to likely drop to $3.70 a gallon by the middle of September and go as low as $3.50 by Halloween, if not sooner.

Lipow said in his note that oil demand is declining and "fears of a recession, especially starting in Europe and spreading to the rest of the world are increasing," as reported by the news outlet.

Patrick De Haan, head of petroleum analysis for GasBuddy, seemed to echo that sentiment, agreeing that lower gas prices are on the horizon.

He said in a statement, "As the sun sets on summer, gas prices are in far more familiar territory and could continue to decline well into fall, barring major disruptions from hurricanes and the likes."